In the relatively short space of the past decade the paper iron ore market has grown from virtually nothing to exceed the physical market, but now the industry is grappling with what comes next. While the growth in iron ore futures and exchanged-cleared swaps has been impressive…
French energy major Total will get a 10 percent stake in the future Arctic LNG-2 project led by Novatek, Novatek Chief Executive Leonid Mikhelson said on Thursday. The entire project has been valued at $25.5 billion, Mikhelson told reporters…
Buying interest for North Sea Forties crude reappeared in the trading window on Thursday for the first time this week, but bids were at a discount to the last deal levels. Oseberg stayed the cheapest benchmark grade and the one setting dated Brent's value…
China emissions could peak before 2030. China's top climate envoy on Wednesday said the country could meet its pledge to cap carbon emissions ahead of its target of around 2030, while a senior environmental official said plans for a carbon market were on track despite ministerial restructuring…
Ukraine will offer Gazprom discounted fees for natural gas transit to ensure a flow from Russia to Europe after 2020, European Commission Vice President for Energy Union Maros Sefcovic said on Friday.Russia's Gazprom and five European companies…
The U.S. oil rig count held steady this week after rising for six weeks in a row even as crude prices soar to multi-year highs, prompting drillers to extract record amounts of oil, especially from shale.The total oil rig count held at 844 in the week to May 18…
Finding roughnecks remains a challenge for oil drillers as rising crude prices increase demand for their services, oilfield executives said on Thursday at a conference in Houston.Oilfield service suppliers cut tens of thousands of workers following the 2014 oil-price collapse…
Asia's U.S. crude imports hit all-time high in May as WTI discount to Brent falls to widest in three years. The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to…
Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project…
Global oil supplies are plentiful enough to withstand a 'significant reduction' in petroleum exports from Iran, according to a White House memo issued on Monday as the Trump administration prepares to reimpose sanctions on the OPEC member nation…
A U.S. decision to reimpose sanctions on Iran is supporting China's newly established crude oil futures, and may spur efforts to start trading oil in yuan rather than dollars, traders and analysts said.Since launching in March, Shanghai crude oil futures have seen a steady pick-up in daily trading…
Rosneft, Russia's top oil producer and one of the biggest globally, plans to reveal share buyback details in June, CFO Pavel Fyodorov said in a conference call on Monday.The company had announced a series of measures on May 1 to improve shareholder returns…
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the…
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling…
Iran is readying the first commercial exports of its West Karoun crude oil grade for May or June, two sources familiar with the matter said, even as fresh economic sanctions against the country loom.Iran has already been shipping samples of…
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